Last week, in his fifth State of the Union address, President Obama promised to use his executive authority to raise the minimum wage for federal contractors to $10.10/hour.

It’s a small step that he hopes will stir Congress to act on a larger issue: a mandated increase across the country for all minimum wage earners.

This isn’t the first time the administration has discussed their desire to enact these sweeping changes; a similar plea was made in in last year’s address. Their premise is simple: American workers deserve to earn a “living wage,” to have a fighting chance at the American dream.

I agree, but raising the minimum wage unfortunately won’t get them there.

STAY UP TO DATE

Sign up to receive emails from CED:

The Committee for Economic Development of The Conference Board (CED) is a nonprofit, nonpartisan, business-led public policy organization that delivers well-researched analysis and reasoned solutions to our nation’s most critical issues.